How to Start a Trucking Company with No Experience?
Start a Trucking Company with No Experience?
Trucking is one of the most vital industries in the United States and serves as a backbone for the economy. A vast portion of the nation’s products are transport on commercial trucks.
Recently, the American Trucking Associations estimate a shortage of about 160,000 truck drivers by 2028.
Given the market conditions, there are currently many opportunities in the trucking industry. You may be considering starting a truck company with little or no experience as a driver, a business owner, or either. This article highlights some of the most important things you should know if you are considering starting a trucking company without prior experience.
- Business plan: To establish a successful business, you need a firm plan for financing, start-up costs, insurance, client acquisition, accounting, tax preparation, and other vital issues. If you have no experience, consulting with trucking business consultants can help you.
- You must decide who will drive: When starting a trucking company, the first question that arises is: how many trucks will you have and who will drive them? If you plan on driving yourself, you will be working as an owner-operator. If you hire someone else to drive your truck, you will need to put a plan for hiring and retaining the drivers.
- Financing your trucking business: As you probably already know, start-up costs are associated with forming a new trucking business; most businesses need some form of financing to get off the ground, either from savings or a bank loan.
- Choose the right truck: When you start your own trucking company, your choice of a commercial truck will be one of your most significant investments. Factors to consider when buying a truck include:
- Comfort level
- Your preferred cab style
- Weather resistance
- Whether they have multiple dealerships across the U.S.
- Weight limit
- New vs. used
- Whether you’re operating locally or long distances
- Registration and permits: One of the key things that make the trucking industry unique is that truckers/business owners need to obtain a wide range of different registrations and permits to operate—especially if you are planning to go across state lines. Your business may need to obtain the following: An EIN number, a DUNS number, MC/DOT number, Boc-3 filings, and UCR and State permits. Without the proper registrations and permits, a trucking company could face severe state or federal sanctions. Suppose you are starting a truck company with no previous experience. In that case, it is crucial that you get all the paperwork done the right way.
- Building and growing your business: Your business can offer the best services in the world, but it will not mean much if unable to obtain clients. There are many opportunities in the trucking industry, but it’s also competitive. Hence, having proper contacts of shippers and brokers is essential.
- Create a website: To start any business, you need a website. Websites can help reduce marketing costs, make global sales, and allow more customers to reach your company efficiently. A website is a quick and easy way to communicate with your potential customers. To attract and retain customers, your website must be user-friendly, that page speeds are optimized and that your brand is visually appealing.
- Presence on social media: The enormous amount of content accessible to the average social media user could provide a silver lining for any logistical company trying to advertise. Among the many advantages of social media marketing, platforms like Facebook, Twitter, LinkedIn, and Instagram present a unique opportunity to reach people beyond your traditional audience. Create a social media account for your business and post engaging, relevant content like infographics and videos.
A few reasons to get behind the wheel
- Truckers are in high demand: The industry is expected to need 100,000 drivers soon.
- The industry needs innovation: Trucking thrives on innovation like any other industry. By making your fleet more efficient and choosing routes that burn less fuel, you can be more valuable to your customers.
- It is resistant to the economic downturn: Trucking serves as the backbone of our economy. As a business owner, you will play a crucial role in getting goods to stores and warehouses. Trucking companies are also recession-proof because there is always a need to transport goods across the country, even in economic hardship.
- You can start small and scale up: Starting a trucking company doesn’t require as many resources or money as other businesses, and it’s easier to expand your business when working with higher demand and profits.
Connect with us to know more, Our Trucking Virtual Assistants can help your business to grow further